High-Brightness LED Market Predicted to Hit US$ 37.5 Billion by 2028

IMARC Group, a leading market research company, has recently releases report titled “High-Brightness LED Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global high-brightness LED market share, size, trends, growth and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What is High-Brightness LED?

A high-brightness light-emitting diode (LED) is a semiconductor device that emits powerful and intense light when an electric current passes through it. It produces significantly higher levels of brightness and is used for a wide range of lighting applications. It offers energy efficiency, durability, and the ability to emit vibrant and focused illumination. It helps reduce light wastage, allows better light distribution control, improves efficiency, and minimizes light pollution. It is extensively used in signals, tubes, bulbs, and displays of mobiles and televisions. Besides this, as it aids in energy consumption and reducing carbon emissions, the demand for high-brightness LED is increasing across the globe.

How Big Is The High-Brightness LED Market?

The global high-brightness LED market size reached US$ 26.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 37.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.

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What Are The Growth Prospects And Trends In The High-Brightness LED Industry?

The increasing construction and remodeling activities of residential and commercial infrastructures represent one of the key factors stimulating market growth. Additionally, the global shift towards energy-efficient and environment-friendly lighting solutions is catalyzing the demand for high-brightness LEDs. Besides this, the rising demand for enhanced visual experiences and advanced display technologies is creating a positive market outlook. Furthermore, the increasing focus on smart and connected lighting systems and the integration of the Internet of Things (IoT) networks for intelligent control, automation, and customization of lighting environments are contributing to market growth. In addition, continuous advancements in LED technology, such as miniaturization, improved thermal management, and higher luminous efficacy, are propelling the market growth.

What Is Included In Market Segmentation?

The report has segmented the market into the following categories:

Breakup by Application:

• Automotive Lighting
• General Lighting
• Backlighting
• Mobile Device
• Signals and Signage
• Others

Breakup by Distribution Channel:

• Offline
• Online

Breakup by Indoor and Outdoor Application:

• Indoor
• Outdoor

Breakup by End-Use Sector:

• Commercial
• Residential
• Industrial
• Others

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Who Are The Key Players Operating In The Industry?

Broadcom Inc., Cree LED, Epistar Corporation, Lumileds Holding B.V., Moritex Corporation, Nichia Corporation, Osram Opto Semiconductor, Samsung Electronics Co. Ltd. and Seoul Semiconductor Co. Ltd.

Key highlights of the Report:

• Market Performance (2018–2023)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

TOC for the Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape